Shipping Company 'SAILS' Doubles Container Vessels in Fleet

22 August 2007
Content from a Premium Partner
Lonrho (London)
press release

Lonrho (AIM: LONR), the African conglomerate with a diverse portfolio of investments is pleased to announce that its 45% subsidiary SA Independent Liner Services (PTY) Ltd ("SAILS") has signed contracts with ship suppliers for two vessels, which will increase its fleet to four container vessels and tonnage to 36,547 tonnes.

Lonrho announced its investment in SAILS in July 2007 and the intention of expanding SAILS' fleet to offer regular, scheduled services from South Africa to West Africa and Europe.

The two sister ships that were being operated by SAILS prior to Lonrho's investment, namely the 8,300 tonne MV Berta and MV Emilia, both with carrying capacities of 650 twenty foot containers (TEU), will be used to provide a regular South Africa/ West Africa service.

New Vessels

Two new vessels will be added to the fleet as from the end of August 2007, namely:

  • the 9,966 tonne MV Taga Bay, with 1,100 twenty foot container capacity; and
  • the 9,981 tonne MV Heinrick Sibum, with carrying capacity of 966 containers.

The MV Taga Bay is a brand new vessel chartered to SAILS for a period of 24 months and will be the first vessel to carry the LONRHO SAILS branding. The Taga Bay has 220 refrigerated container plugs. She will be delivered in Shanghai at the end of August 2007, where she will lift cargo for various parties to South Africa where she will take up her assignment on the South Africa/ West Africa/ Europe service. The Taga Bay is expected to run profitably from her first trip being the Shanghai to South Africa voyage.

The MV Heinrick Sibum is scheduled to be delivered by the end of August 2007, and is chartered on a round voyage basis with options for additional round trip voyage, thereby providing additional carrying capacity to Europe. This vessel has 252 refrigerated container plugs.

Further Expansion

In addition, SAILS is seeking three more 1,100 container capacity, fast vessels to add to its fleet with the aim of bringing these into service over the next four months. These 3 vessels are also planned to service the South Africa – Europe route.

David Lenigas, Executive Chairman and Chief Executive commented;

"The advancement of the SAILS strategy to become one of the leading shipping companies in Southern Africa providing a regular and reliable service to Europe is evidenced by the fact that last week the MV Berta sailed fully laden from Rotterdam, destined for Dakar, Tema and then Cape Town. "This is an exciting time for the Lonrho SAILS partnership and we look forward to further expansion of the fleet in the near future."

ENQUIRIES

  • Lonrho Plc +44 (0) 20 7016 5105
  • David Lenigas, Chief Executive +44 (0)7881 825 378
  • Emma Priestley, Executive Director +44 (0)7867 785 177
  • SAILS Ian Wicks +27 (0)82 3871202, +27 (0)21 4211750
  • Pelham PR Charles Vivian +44 (0) 20 7743 6672, +44 (0) 7977 297903
  • Alisdair Haythornthwaite +44 (0) 20 7743 6676, +44 (0) 7714 721379
  • Collins Stewart Europe Hugh Field / Jonny Sloan +44 (0) 20 7523 8350

NOTES TO EDITORS

About SAILS

SAILS is a South African based shipping company focused on providing a regular and reliable scheduled service to West Africa, and Europe calling at - Durban, Port Elizabeth, Cape Town, Tema; Lagos, Rotterdam, Felixstowe, Bremerhaven and Antwerp. In the medium term SAILS is constantly monitoring and assessing alternative trade routes, including potentially East Africa, and looking to expand rapidly to support the needs of itsalready strong client base.

About LONRHO

Lonrho Plc is an expanding conglomerate that is rapidly growing a successful business throughout Africa. The Company is listed on the London AIM stock exchange (LONR). Lonrho is strategically focused on the development of business opportunities in infrastructure, transportation, support services and natural resources. The Company has over 20,000 shareholders and substantial institutional backing to support its mandate to build a profitable business that plays a fundamental role in the development of the African economy.

Since 2006, the Company has invested in or acquired control of:

  • Hotel Cardoso - www.hotelcardoso.co.mz (retained)
  • Nare Diamonds - www.narediamonds.com
  • Brinkley Mining - www.brinkley-mining.com
  • Luba Freeport - www.lubafreeport.com
  • Fly540 - www.fly540.com
  • Norse Air - www.norseair.co.za
  • Swissta Holdings - www.swissta.com
  • Countermine - www.countermine.com
  • SA Independent Liner Services
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